Category: AI

Regulatory Watch News

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  FINTRAC imposes an administrative monetary penalty on Commerciale I.C. – Pacific Inc.

  FINTRAC

  February 5, 2026

  FINTRAC announced today that it has imposed an administrative monetary penalty on Commerciale I.C. - Pacific Inc., also operating as I.C. - Pacific Trading Inc. Following a compliance examination, this money services business, in Montréal, Quebec, was imposed an administrative monetary penalty of $224,235 on September 2, 2025, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

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  OLAF supports anti-fraud Greek authorities in building advanced analytical capabilities

  OLAF

  February 5, 2026

  On 3 - 4 February 2026, OLAF experts delivered a two-day training course in Athens for 100 financial analysts and investigators from the Directorate Αgainst Organised Crime. The training focused on the processing and analysis of large volumes of financial data and Open-Source Intelligence (OSINT), while also introducing the basic principles of an OLAF investigation, including the effective use of analytical elements in investigative work.

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  Order subject to penalty on IDSG for failing to comply with demand for information

  DNB

  February 5, 2026

  De Nederlandsche Bank N.V. (DNB) has imposed an order subject to penalty on IDSG Group B.V. (IDSG). This is because IDSG failed to fully comply with DNB’s demand for information.To determine whether IDSG invited repayable funds from the public in non-compliance with Section 3:5 of the Financial Supervision Act (Wet op het financieel toezicht – Wft), DNB repeatedly requested – and most recently demanded – that IDSG provide information. When IDSG failed to respond to the demand, DNB determined that IDSG had not met its statutory obligation to cooperate under Section 5:20(1) of the General Administrative Law Act (Algemene wet bestuursrecht – Awb). DNB accordingly imposed an order subject to penalty on IDSG on 3 September 2025, giving the institution 10 business days to comply with its information request.